Exam #1 Flashcards

Question

Preschoolers are what age?

Answer 1

Preschoolers (5 years or younger)

Answer 2

6 -11 years old

Answer 3

8 - 12 years old

Answer 4

13 - 19 years old

Answer 5

Are the largest U.S. minority population segment Are not a single unified market Are underserved by current marketing efforts Are responsive to advertising in their dominant language

Answer 6

Geographically-concentrated, with 3/4s of all African- Americans living in 16 states. Interested in prestige and name-brand products in greater proportion than do Caucasians. Have spending power that totals nearly $1.1 trillion annually.

Answer 7

Represent many nationalities Are better educated and have higher incomes than average Occupy more prestigious jobs Speak a variety of languages Are heavy users of the Internet/technology Fastest growing minority

Answer 8

The key feature, benefit, or image that the brand stands for in the minds of the target audience. Position in Consumers mind and Positioned against competing brands.

Answer 9

Is how a brand wants customers and prospects to think and feel about their brand. A description of the brands product and target audience and explains how it fills a market need.

Answer 10

Positioning via Attributes or Positioning via Brand Benefits

Answer 11

Product- Related (Price, Color, Design, Safety) Non-Product Related: Usage and User imagery

Answer 12

The Coca-Cola "Share a Coke" ad is a campaign that features Coca-Cola cans and bottles with personalized labels, such as popular names or nicknames. By focusing on the act of sharing and the emotional connection it creates Coca-Cola positions itself as a brand that is meant to be enjoyed and shared with loved ones. The usage imagery highlights the experience of consuming and sharing the product, rather than directly emphasizing its taste or ingredients.

Answer 13

Just Do It ad is a prime example of positioning via user imagery. These ads are designed to inspire and motivate consumers by associating the brand with a sense of personal growth and triumph over challenges. The user imagery focuses on the athletes and their stories, positioning Nike as a brand that empowers individuals to push their limits, be active, and achieve greatness. The ad does not primarily focus on the specific product attributes or features; rather, it constructs a strong brand image through the user imagery.

Answer 14

Describes the context in which to use the brands product or service.

Answer 15

Describes the user of the brand with personality traits.

Answer 16

Functional Needs Symbolic Needs Experiential Needs

Answer 17

Products that attempt to fulfill the consumer’s consumption-related problems/needs. Examples: Convenience High quality Fast delivery time Cleanliness Safety Good health

Answer 18

Examples: Need for status Need for power Need for belonging/membership Need for uniqueness Need for altruism

Answer 19

Examples: Looking elegant Tasting/smelling great Sounding divine Being exhilarating Exciting Challenging Mentally entertaining

Answer 20

The VALS framework divides consumers into eight categories based on their demographics, lifestyles, behaviors, ideals, achievements, and self-expression orientation. It provide marketers with insights into the motivations and preferences of different consumer segments.

Answer 21

1. Ideals-oriented 2. Achievement-oriented 3. Self-expression-oriented

Answer 22

Guided by their views of how the world should be. Thinkers and Believers

Answer 23

Guided by the actions and opinions of others. Achievers and Strivers

Answer 24

Guided by a desire for social or physical activity, variety, and risk taking. Experiencers and Makers

Answer 25

These individuals are high-income, highly educated, and possess a variety of resources and high innovation. They are motivated by achievement, enjoy premium brands, and are early adopters of new products and technologies.

Answer 26

Thinkers are well-educated, prefer intellectually stimulating activities, value knowledge/expertise. They are rational decision-makers and do research before making a purchase. They tend to be cautious and favor quality over price.

Answer 27

Achievers are career-oriented individuals who are motivated by success and products that convey this success. They have high incomes, seek out established brands, and value reliability and durability.

Answer 28

This group comprises young, enthusiastic, and impulsive individuals who are motivated by self-expression and variety. They seek out novel experiences and are willing to take risks. Experiencers are trendsetters and enjoy trying new products and brands.

Answer 29

Believers are conservative individuals who are motivated by tradition, stability, and security. They have strong religious or moral values and prefer familiar and established brands. They are loyal customers and tend to make purchases based on the recommendations of others.

Answer 30

Strivers are individuals with modest incomes who are motivated by material possessions and social status. They aspire to be achievers but often lack the resources to do so. They are eager to prove themselves and are receptive to marketing messages that promise an improved lifestyle.

Answer 31

Makers are independent and practical individuals who enjoy hands-on activities and creating things. They prefer functional/practical products and are motivated by sustainability and self-reliance. Maker’s value personal achievement and tend to be loyal customers.

Answer 32

Survivors are individuals with lower incomes who are motivated by meeting their basic needs and maintaining security. They tend to be elderly, retired, or living on a fixed income. Survivors are price-conscious and value practicality and reliability in products.

Answer 33

Potential rating index by zip markets Delineated the U.S. neighborhoods into 60+ clusters with descriptive names that characterize these regions. Built to help marketers find prospects faster and sell smarter, provides rich insights into every household in the U.S. including demographics, lifestyle and media preferences, shopping behaviors and technology usage.

Answer 34

Introduction and acceptance of new ideas, including new brands. Essential to long-term market success

Answer 35

Facilitates successful new product introductions Reduce the product failure rate

Answer 36

1. Awareness Class: Free samples and coupons, trade shows/personal selling, advertising, distribution 2. Trier Class: Coupons, Widespread distribution, and introductory low pricing. 3. Repeater Class: Personal selling, advertising, price, distribution, and product salinification.

Answer 37

Relative Advantage Compatibility Complexity Observability Trialability

Answer 38

A product innovation is perceived as better than existing alternatives Positively correlated with an innovation’s adoption rate Relative disadvantage (e.g., high price, difficulty of learning how to use) Consumer Perception of a New Brand versus Alternatives Better Performance, Time and Effort Saving, and Immediacy of Reward

Answer 39

An innovation is perceived to fit into a person’s way of doing things. The greater compatibility, the more rapid a product’s rate of adoption. Overcome perception of incompatibility through: Heavy advertising. Compatibility Factors Affecting the Rate of New Brand Adoption Consumer Needs, Personal Values/Beliefs, and Past Consumption Practices

Answer 40

The innovation’s level of perceived difficulty The more difficult, the slower the rate of adoption

Answer 41

An innovation can be used on a limited basis prior to making a full-blown commitment The trial experience serves to reduce the risk of a consumer’s being dissatisfied with a product after having permanently committed to it through outright purchase.

Answer 42

Consumers can observe the positive effects of using the new product. Higher the visibility, more rapid the adoption rate.

Answer 43

Impersonal sources: information received from the Internet, television, magazines, and other mass-media sources. Personal sources: word-of-mouth influence from friends, acquaintances, and from business associates.

Answer 44

A person who frequently influences the attitudes or overt behavior of other individuals’ An informer, persuader, and confirmer Influence is typically limited to one or several consumption topics Influence moves horizontally through a social class (not across)

Answer 45

More sophisticated More Social Slightly higher socioeconomics status (but exist at each SES level) Generally more innovative Willing to act differently/need to be unique

Answer 46

Individuals who have a lot information about many kinds of products, places to shop, and other facets of markets. They initiate discussions with consumers and respond to requests from customers for market information.

Answer 47

Supplying advance samples in key markets to people who are likely to be influential. Finding cheerleaders who will get the talk started.

Answer 48

1. Advertising Strategy 2. Strategy Implementation 3. Assessing Ad Effectiveness

Answer 49

Setting Objectives Formulating Budgets Creating Ad messages Selecting Ad Media and Vehicles

Answer 50

Informing Influencing Reminding Adding Value Assisting Other Company Efforts

Answer 51

Makes consumers aware/educates them about the features and benefits, and facilitates the creation of positive brand images Facilitates the introduction of new brands and increases demand for existing brands Performs another information role by teaching new uses for existing brands (Usage expansion advertising)

Answer 52

Influences customers to try advertised products and services.

Answer 53

Primary demand is creating demand for an entire product category.

Answer 54

Secondary demand is the demand for a specific company’s brand.

Answer 55

Informs consumers about how to use a product or service more.

Answer 56

Keeps a company’s brand fresh in the consumer’s memory. Influences brand switching by reminding consumers who have not recently purchased a brand that the brand is available and that it possesses favorable attributes.

Answer 57

Three basic ways by which companies can add value 1. innovating 2. improving quality 3. altering consumer perceptions Advertising adds value to brands by influencing consumers’ perceptions.

Answer 58

Advertising is just one member of the marketing communications team Sometimes, an assister that facilitates other company efforts in the marketing communications process.

Answer 59

Guides the budgeting, message, and media aspects of advertising strategy.

Answer 60

Yes, they are primary factors that determine the combination of media used in the Media Mix.

Answer 61

Who What Where When How Often

Answer 62

Specify target market.

Answer 63

Emphasis: the products features, benefits to be emphasized and the emotions to be evoked. Goals: objectives that need to be accomplished at the present stage in a brand’s life cycle. *What emphasis? *What goals?

Answer 64

Which geographic markets need to be emphasized?

Answer 65

What months or seasons are best?

Answer 66

How often should the brand be advertised?

Answer 67

Percent-of-Sales Budgeting Objective-and-Task Method Competitive Parity Method (match competitors method) Affordability Method

Answer 68

A company sets a brand’s advertising budget by simply establishing the budget as a fixed percentage of past or anticipated sales volume. Criticized as being illogical Sales=f(Advertising) (o) Advertising=f(Sales) (x)

Answer 69

The most sensible and defendable advertising budgeting method Specify what role they expect advertising to play for a brand and then set the budget accordingly.

Answer 70

Follow what competitors are doing Remember what a good brand positioning is?

Answer 71

Only the funds that remain after budgeting for everything else are spent on advertising. Only the most unsophisticated and impoverished firms. However, affordability and competitive considerations influence the budgeting decisions of all companies.

Exam #1 Flashcards

(95 cards)